Steady-state properties in a class of dynamic models

被引：10
|
作者：
Tsur, Yacov [1 ,2 ]
Zemel, Amos [3 ]
机构：
[1] Hebrew Univ Jerusalem, Dept Agr Econ & Management, IL-76100 Rehovot, Israel
[2] Hebrew Univ Jerusalem, Ctr Agr Econ Res, IL-76100 Rehovot, Israel
[3] Ben Gurion Univ Negev, Jacob Blaustein Inst Desert Res, Dept Solar Energy & Environm Phys, IL-84990 Sede Boker Campus, Israel
来源：
JOURNAL OF ECONOMIC DYNAMICS & CONTROL | 2014年 / 39卷
关键词：
Infinite horizon; Autonomous problems; Optimal policy; Steady-state; Approach time; RESOURCES; GROWTH; TIME;
D O I：
10.1016/j.jedc.2013.11.009
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We characterize the location, stability and approach-time of optimal steady states in single-state, infinite-horizon, autonomous models by means of a simple function of the state variable, defined in terms of the model's primitives. The method does not require the solution of the underlying dynamic optimization problem. Its application is illustrated in the context of a generic class of resource management problems. (C) 2013 Elsevier B.V. All rights reserved.
引用
收藏
页码：165 / 177
页数：13
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